Tuesday 26 October 2010

6ECONT and EURUSD keep staying flat

Market Leader informed
The common European currency remains uncertain. Yesterday’s only achievement was the new local maximum at 1.4080, which is a couple of points higher than the previous one.
According to some analysts, this week USD may give investors a surprise by rapidly recovering against all major currencies. USD perspectives are quite optimistic as the results of the FOMC meeting are unlikely to give rise to buying risky assets once again.
The impact of today’s macroeconomic data are possible at 8.30GMT (GB), 13.00 and 14.00GMT (US - Consumer Confidence).

Oct 26th 2010. The Department of Volume Analysis of Masterforex-V Academy defines:
The mid-term dynamics is flattish
The short-term dynamics of 6ECONR (EURUSD futures):

According to the market conditions, today’s key levels are the level of the contract at 1.3920 (the volume is 50000 lots) and yesterday’s max level at 1.4022 (5400 lots). One of the boundaries of the flat will serve as an indicator of the forthcoming short-term movement when the price breaks through it and settles above/below it.



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